Bidenomics!-----After $700 million U.S. bailout, trucking firm Yellow is shutting down | The Seattle Times

After $700 million U.S. bailout, trucking firm Yellow is shutting down | The Seattle Times

"WASHINGTON — Yellow, the beleaguered trucking company that received a $700 million pandemic loan from the federal government, notified staff Friday that it is shutting down and laying off employees at all of its locations.
The move comes before an expected bankruptcy filing by Yellow in the coming days.

 The closure of the company would mean the loss of approximately 30,000 jobs and mark the end of a business that just three years ago was deemed so critical to the nation’s supply chains that it warranted a federal bailout.
“The company is shutting down its regular operations on July 28, 2023, closing and/or laying off employees at all of its locations, including yours,” the company said in a memo to staff that was reviewed by The New York Times...